DBS August offer: S$300 cashback with S$500 spend on new credit cards

EXPIRED This article relates to an offer or promotion which has now expired.
 

If you’re not yet a DBS credit card holder, or if it’s been a year since you last had one, the bank is repeating another of its regular two-week flash sign-up offers for six of its credit cards this month, allowing new customers to earn an easy S$300 cash rebate for a minimum spend of S$500 in the first 30 days – equivalent to 60% cashback.

This isn’t as good some former sign-up offers, which have included S$300 sign-up gift for making only a single transaction, and more recently S$300 back for S$300 spend in 30 days, though in fairness this minimum S$500 spend threshold is still quite reasonable, when you consider you’re basically getting 60% it back!

You can even achieve the spend buying Cold Storage or NTUC vouchers for future shopping, if you don’t have any immediate expenses coming up.

To be eligible, you’ll have to apply between 2nd August 2022 and 15th August 2022.

As always, this deal is a nice opportunity to add one of our recommended miles-earning options to your wallet, like the Woman’s World or Altitude cards, if you’re not currently holding a DBS or POSB credit card as a principal cardholder.

Eligibility

To be eligible, you’ll need to be a new-to-bank credit card customer.

If you are a supplementary DBS/POSB cardholder but not a primary cardholder on any such account, you’ll also qualify as a new customer.

The offer

You’ll earn S$300 cashback when you apply online for a DBS/POSB credit card using promo code ‘AUGFLASH’– with S$500 minimum spend required in the first 30 days.

Do make sure not to skip this step when you apply. No code – no cashback!

Applicable cards are:

DBS Altitude Visa APPLY	DBS Altitude Amex APPLY
DBS Woman’s APPLY	DBS Woman’s World APPLY
DBS Live Fresh APPLY	POSB Everyday APPLY

Here’s how it works:

The qualifying spend can be online or in-person and can be charged in SGD or foreign currency, or any mixture of these.

The S$500 cashback will then be credited to your card account within 60 to 80 days from the date of your S$500 minimum spend being met.

For example if your card is approved on 14th August 2022 and you complete the steps correctly, with a total of S$500+ spend met on 10th September 2022, the cashback will be credited by 29th November 2022.

Your card account must remain open and in good standing when the cashback is credited.

Excluded transactions

You only have to make S$500 spend to qualify for this offer, so make sure it’s all eligible especially if you’re planning to hit the minimum level exactly during the first 30 days.

Here’s a list of excluded spend categories:

DBS Spend exclusion categories posted 0% Interest Instalment Payment Plan monthly transactions posted My Preferred Payment Plan monthly transactions interest, finance charges, cash withdrawal, balance transfer, smart cash, AXS payments, SAM online bill payments, bill payments via internet banking and all fees charged by DBS payments to educational institutions payments to financial institutions (including banks, online trading platforms and brokerages) payments to government institutions and services (court cases, fines, bail and bonds, tax payment, postal services, parking lots and garages, intra-government purchases and any other government services not classified here) payments to hospitals payments to insurance companies (sales, underwriting and premiums) payments to non-profit organisations payments to utility bill companies payments to professional service providers (including but not limited to accounting, auditing, bookkeeping services, advertising services, funeral service and legal services and attorneys) any top-ups or payment of funds to payment service providers, prepaid cards, any prepaid accounts or purchase of prepaid cards/credits (including but not limited to EZ-Link, GrabPay, NETS FlashPay and Singtel Dash) any betting transactions (including levy payments to local casinos, lottery tickets, casino gaming chips, off-track betting and wagers) any transactions related to crypto currencies payments made to CardUp, FavePay, iPaymy and SmoovPay are also subject to the exclusions listed above any transaction with transaction description “AMAZE*” any other transactions determined by DBS from time to time

DBS Altitude cards

One of the most popular general spend cards among our readers in the DBS lineup is the bank’s Altitude cards.

There’s currently a series of 12,000 to 31,000 miles sign-up bonuses running for these cards for new-to-bank credit card customers, until 30th September 2022.

This new S$300 cashback deal is much easier to qualify for, with those offers requiring S$4,000 spend in the first 60 days, but you might want to consider them as alternatives, using the following promo codes.

DBS Altitude Amex

Bonus Miles		Cashback
Promo Code: ALTMEXW	Promo Code: ALTMEX	Promo Code: AUGFLASH
↓	↓	↓
Spend: S$4k in 60 days		Spend: S$500 in 30 days
Fee waiver	Annual Fee: S$192.60	Fee waiver
↓	↓	↓
Bonus Miles: 21,000 Cashback: S$0	Bonus Miles: 31,000 Cashback: S$0	Bonus Miles: 0 Cashback: S$300

21,000 bonus miles (which we value at around S$400) is probably better value than S$300 cashback, but do be aware of the S$4,000 minimum spend requirement in the first 60 days to trigger this gift, compared to only S$500 in 30 days for the cashback offer.

DBS Altitude Visa

Bonus Miles		Cashback
Promo Code: ALTVISW	Promo Code: ALTVIS	Promo Code: AUGFLASH
↓	↓	↓
Spend: S$4k in 60 days		Spend: S$500 in 30 days
Fee waiver	Annual Fee: S$192.60	Fee waiver
↓	↓	↓
Bonus Miles: 12,000 Cashback: S$0	Bonus Miles: 22,000 Cashback: S$0	Bonus Miles: 0 Cashback: S$300

For the Visa card the sign-up bonus will only net you 12,000 additional miles with first-year fee waiver, which isn’t as attractive as this latest S$300 cashback deal.

You’ll also wait a lot longer for the bonus to credit with the miles sign-up bonuses – between four and six months from card approval, while the S$300 cashback is much quicker, taking only 60 to 80 days.

For further details, check out our full review of the Altitude cards.

DBS WWMC

The other great DBS credit card to have in your wallet (or actually, on your desk at home) for miles earners is the Woman’s World Mastercard (WWMC), which earns 4 miles per dollar for the first S$2,000 in monthly online transactions.

The best part? Men can apply too!

Check out the product promotion page and our full review for all the details.

Terms and conditions

Here are the full terms and conditions applicable to this sign-up offer.

 DBS August 2022 Sign Up Flash Deal T&C

Further details are available at the promotion page.

DBS is back with its regular S$300 cashback flash sign-up bonus for new-to-bank members picking up these credit cards, though the higher minimum spend of S$500 in the first 30 days to qualify for the gift remains (previously, S$300).

That’s still far from unreasonable in our view, and is effectively equivalent to 60% cashback!

The deal is great if you don’t yet hold a credit card with the bank, or have been DBS/POSB credit card free for a year or more.

Remember you must use the promo code AUGFLASH when applying to be eligible for this cashback offer, between Tuesday 2nd August 2022 and Monday 15th August 2022.

If you’re already a DBS credit card customer, check whether any of your supplementary cardholders are eligible. If they don’t have a primary DBS credit card of their own, and haven’t for the last 12 months, they should probably take advantage now.

(Cover Photo: DBS)